KLM Axiva Finvest Saw a 52 percent Rise in Revenue for 3rd Quarter of FY22-23

KLM Axiva Finvest, the countrys leading financial services firm, reported a 52.07% growth in the revenue of Rs. 203.91 crore (Q3 FY23) from Rs. 134.09 crore in the previous quarter of FY23. The brand secured a standalone profit of Rs. 4.73 crore in the 3rd quarter, and the consolidated profit for the three quarters stood at Rs. 20.25 crore.

The total value of assets managed by the company has risen to 1363 crores. There is also a significant increase in gold mortgage loans by ~49%, whereas the total investment rose to Rs. 1246 crore. The income generated from interest stands at Rs. 200.73 cr, a rise of ~56% vis-a-vis Rs. 129.09 cr from last quarter (Q2, FY23).

KLM Axivas 8th NCD public issue is now open for the public from 20th February, 2023. The entire amount raised through NCD will be used for gold loan business expansion. Manoj Ravi, CEO, said the NCD issue targeting Rs. 250 crore would end on March 3.

The number of branches of KLM Axiva will reach 1000 this year. KLM Axiva Finvest recently opened a nodal office in Mumbai to consolidate its pan-India presence and accelerate its expansion activities. The company has also speeded up the process for the IPO.

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